Monday, June 18, 2007

C'mon construction stocks!!

World market rallied today, with HSI surging by 565 pts!! STI did rather well too, breaking record high to close up 44 points at 3623.

Swiber finally took a breather today after rising from 1.87 all the way to 2.34 in a span of a few days. Was quite strong this morning with intraday high of 2.43 but closed just slightly positive at 2.39 today. First sign of distribution where we have strong start but weak finish. It's okay, must retrace a bit before we can go higher, like this is healthier and more sustainable.

I thought CSC can go past the 0.410 mark but it didn't. Close slightly up at 0.40. Still a lot a lot to me, considering I have 25 lots on this. Yongnam, in which I wanted to add more around 0.385, didn't even come close to my buy in point. Well, I guess next time then. But another construction stock which wasn't in my watchlist - Chip eng seng, rose up strongly (+0.175). Construction stocks taking turns to cheong...sector play.

Pac Andes passed the resolution for the right issue already. So I'll be waiting for my $0.52 rights offer to be sent to me. I'll definitely subscribe it, so that's where I am going to spend my bullets on.

Longcheer...haha, went up so much, 0.105 up to close at 0.795. I wonder what's the big hoo ha about longcheer today. I have absolutely no regrets about longcheer. It can rise to $1 for all I care. Unless it won contracts concerning the 3G network in china, I won't be looking at this stock. I hope all those who still invest can recoup their money (i know some are still holding on), but I've moved on to other stocks already.

Amara seems such an attractive buy. 0.78 is the resistance level, clear that we can see higher gains. Probably won't buy for myself, simply have no time nowadays, extremely busy with work.

Dow -22 now, Europe mainly red. Tmr STI might retrace a bit, go up so much in recent days.